Chile: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Chile

In 2022, the Chilean orthopedic prosthetics market increased by 6.2% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +36.5% against 2020 indices. Orthopedic prosthetics consumption peaked in 2022 and is likely to continue growth in years to come.

Orthopedic Prosthetics Exports

Exports from Chile

In 2022, exports of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) from Chile declined to X units, reducing by -2.3% on the previous year's figure. In general, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 345%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, orthopedic prosthetics exports dropped slightly to $X in 2022. Over the period under review, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 485%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Uruguay (X units) was the main destination for orthopedic prosthetics exports from Chile, with a 43% share of total exports. Moreover, orthopedic prosthetics exports to Uruguay exceeded the volume sent to the second major destination, Belgium (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Uruguay stood at +45.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+24.9% per year) and the Netherlands (+23.1% per year).

In value terms, Uruguay ($X) emerged as the key foreign market for artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports from Chile, comprising 58% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Belgium, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value to Uruguay totaled +57.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.3% per year) and Belgium (+29.5% per year).

Export Prices by Country

The average orthopedic prosthetics export price stood at $X per unit in 2022, remaining constant against the previous year. Overall, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2014 an increase of 133%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Chile

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imported into Chile declined slightly to X units, which is down by -2.4% compared with 2021. Overall, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2018 when imports increased by 75%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, orthopedic prosthetics imports reached $X in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 30%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of orthopedic prosthetics to Chile, accounting for a 28% share of total imports. Moreover, orthopedic prosthetics imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Ireland (X units) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.3% per year) and Ireland (+0.6% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Chile, comprising 42% of total imports. The second position in the ranking was held by Ireland ($X), with a 14% share of total imports. It was followed by Germany, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+0.6% per year) and Germany (+4.9% per year).

Import Prices by Country

In 2022, the average orthopedic prosthetics import price amounted to $X per unit, with an increase of 13% against the previous year. Overall, the import price, however, showed a pronounced slump. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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